Velocis Sells Trinity Place in Denver for $40.2M

April 15, 2019 – HFF announces that it has closed the sale of Trinity Place, a boutique office property totaling 195,753 square feet in Denver’s central business district (CBD)....
Trinity Place

April 15, 2019 – HFF announces that it has closed the sale of Trinity Place, a boutique office property totaling 195,753 square feet in Denver’s central business district (CBD).

HFF represented the seller, Velocis, and procured the buyer, Novel Coworking.

Trinity Place is located at 1801 Broadway in the thriving Uptown submarket of Denver’s CBD. The property has a Walk Score® of 98 and a Transit Score® of 93 being situated two blocks from light rail connectivity and the Free MetroRide or Free MallRide at Civic Center Station. Additionally, the boutique office property is close to the sought-after neighborhoods of Five Points, Capital Hill and Cheeseman Park, which have the greatest density of Millennial households in Denver and offer an unrivaled amenity base of hip cafes, chef-driven farm-to-table restaurants and famous concert venues, including the Fillmore and Ogden theatres. The 17-story building offers average floorplates of 12,200 square feet and is currently 65% leased.

The HFF investment advisory team representing the seller included senior managing director Mark Katz and senior director Peter Merrion.

“Trinity Place was a very active marketing process with tremendous interest from real estate investors,” said Merrion. “The property’s boutique, value-add profile and dynamic Uptown location had a wide appeal. We are excited to see the new owner continue to drive value and create a new experience in the Denver market.”

“Denver is an incredibly attractive market right now in the investor community,” said Mike Lewis, partner, Velocis. “Following a successful repositioning of Trinity Place, we felt the timing was right to exit.”

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CommercialDealsDenverNationalOfficeSalesWest

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